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Author Topic: The future of the paper money  (Read 414609 times)
EdenHazard
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November 22, 2017, 04:03:23 PM
 #4741

I like paper money, easier to use in daily transactions because we do not always need a connection in transactions. But I also like bitcoin because its value is very big and make it easier to transact online. So I thought the paper money would be forever.
There are lot of speculations regarding this aspect. There is no way that we can experience a cashless society. People are using paper money since centuries and they actually believe in paper money. They will never ever go accept this thing and they will keep on using paper money in the coming days as well. Paper money will remain there at its very own place and bitcoin will not have any kind of effect on paper money.
yes but at least we can see with the data available about how people welcoming the digital era especially about electronic money , so far so good , a lot of people start to wake up about the digital money urgency .

it makes everything done easier and effective , just the matter of time paper money get forgotten slowly.

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Casabrandy
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November 23, 2017, 06:17:30 AM
 #4742

Paper cash is going to be eliminated quickly or later on,credit and debit credit cards as bitcoin will change and become the primary method to moove your hard earned money ,soo they can begin an coutdown,as governements see the things they can help to save stop printing the coins ,but with printed cash they are able to control the flux of the forex.
more people tends to depend more on cards or digital ways of payme.t other than having caah, soon only few people will use it as their main source of transactions since innovation were already happening now.

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diegz
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November 23, 2017, 10:39:06 AM
 #4743

Paper cash is going to be eliminated quickly or later on,credit and debit credit cards as bitcoin will change and become the primary method to moove your hard earned money ,soo they can begin an coutdown,as governements see the things they can help to save stop printing the coins ,but with printed cash they are able to control the flux of the forex.

If they want to save the cost of printing paper money, they could go with digital money, credit card and debit cards could play a major role.

In my opinion, it would take time before fiat money will disappear. The world is not equal, there are places where paper money is widely used and there are also places where there is no internet and people who can't use it. Paper money would only disappear if the whole world would decide that they should stop producing it and support digital money, otherwise, paper money will always be there and cryptocurrencies will just be an option.

magle
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November 23, 2017, 10:43:28 AM
 #4744

Paper money is going away, at least in Denmark. From January 1st 2018, some type of stores are even allowed to refuse cash (paper money). It is simply just the beginning of the end for paper money.
However I'm quite sure that crypto will not just take over. The governments need to follow the flow of money to handle tax fraud etc.

mixelalex
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November 23, 2017, 11:23:56 AM
 #4745

Probably, they will also disappear, like gold ones, someday. When all the corners of the earth are digitized. And someday it will happen.

tranquanghuy
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November 23, 2017, 11:32:25 AM
 #4746

I know that in the future paper money will be disappear and replace by others, may be card or else
lelahkenabanned
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November 23, 2017, 11:46:52 AM
 #4747

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?


the future of paper money may no longer be useful because it is now developing and competing to create digital currencies such as bitcoin to cope with the economic crisis in the future. because by using digital currencies more efficient and more environmentally friendly.

btc78
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November 23, 2017, 11:55:56 AM
 #4748

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?

Even though bitcoin has reached very high heights of success and is very popular among people of all ages but still I don’t think that bitcoin will be able to replace money and paper money does have a future because firstly paper money is very popular way more popular than bitcoin and has more users than bitcoin. Then paper money does not require any internet connection to run whereas without a stable internet connection bitcoin cannot run and will end. Then paper money is stable and centralised whereas bitcoin is not stable and is decentralised.
Both has their own worlds. Bitcoin existing in the digital world and paper money in the physical world. They all have their differences and each has their own purpose. Being able to hold paper money in our hands is more efficient for people all around the world because not every one has the technology to use bitcoin. While bitcoin being virtually controlled needs technology to be use. I think we both need these two because we all have different point of views.
thats the reality bitcoin is virtual and paper money is physical they both different functions..lets accept the reality that physical money wont be take over by digital money.imagine how will we use digital money if theres lack of electricity or power,when the internet wasnt available cant we see that situation?while the physical money is functional .

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ridwan4619
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November 23, 2017, 12:04:09 PM
 #4749

Paper money will stay forever.
Why? Because its easier to make than coins.

I agree with your opinion, because it is not only easy to make paper money is also more flexible to carry but I also like bitcoin because it is easier to use in online transactions and more profitable when we invest.
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November 23, 2017, 12:06:17 PM
 #4750

Money is only an agreement from the lender that he is liable to pay the borrower the certain amount of goods or services equivalent in the foreseeable future.If we look at the history of money, in the initial days, there was no concept of money and only one type of good was exchanged for another type. Through the evolution of time, the concept of bond or agreement to pay the borrower in future came forward.This idea changed the way we exchange our services for another. Instead of directly being paid with equivalent amount of another substitute we were given paper notes which became the medium of exchange.So going in this way, the future of paper money isn't very illustrious, cause it is very susceptible to damage by natural and man-made(e.g robbery or fake notes etc) causes. So I think the future money will be digital, where the concept of bearing liabilities would be the main theme without any real exchange of material stuffs of any kind.
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November 23, 2017, 05:25:29 PM
 #4751

I think paper money won't disappear or banned, but I am looking forward for this digital currency. In the future we can't predict what is the best way of our currency, as of now we have paper, plastic and cryptocurrency. Until the government and central bank will print a paper money do we need them and never be replace it.
tdrinker
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November 23, 2017, 05:38:46 PM
 #4752

Paper money is outdated and will cease to exist soon, it is harmful to the planet, costly to print and much easier to fake than a good digital currency will be. On top of that it is much harder to track transactions in cash which is something governments would love to be able to do.

Md.Sufian
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November 23, 2017, 08:42:04 PM
 #4753

People are now interested in trading online. Bitcoin Forum Project is one of the most popular online media platforms. The speed at which online activities are going forward I think the paper money will be difficult to find in the future. So people will deal in the future through online.

CowboyKiller
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November 23, 2017, 09:27:07 PM
 #4754

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?

Even though bitcoin has reached very high heights of success and is very popular among people of all ages but still I don’t think that bitcoin will be able to replace money and paper money does have a future because firstly paper money is very popular way more popular than bitcoin and has more users than bitcoin. Then paper money does not require any internet connection to run whereas without a stable internet connection bitcoin cannot run and will end. Then paper money is stable and centralised whereas bitcoin is not stable and is decentralised.
Both has their own worlds. Bitcoin existing in the digital world and paper money in the physical world. They all have their differences and each has their own purpose. Being able to hold paper money in our hands is more efficient for people all around the world because not every one has the technology to use bitcoin. While bitcoin being virtually controlled needs technology to be use. I think we both need these two because we all have different point of views.
thats the reality bitcoin is virtual and paper money is physical they both different functions..lets accept the reality that physical money wont be take over by digital money.imagine how will we use digital money if theres lack of electricity or power,when the internet wasnt available cant we see that situation?while the physical money is functional .
Suretly, we can not negate the role of paper money. In my country, the popularity of digital currency also grow many much, but the most of normal user still like using paper money for daily. It is useful and friendly, does not need us have internet to access our money.
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November 23, 2017, 10:02:38 PM
 #4755

Suretly, we can not negate the role of paper money. In my country, the popularity of digital currency also grow many much, but the most of normal user still like using paper money for daily. It is useful and friendly, does not need us have internet to access our money.

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karanggatak
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November 23, 2017, 10:12:42 PM
 #4756

i think paper money cant be replace by digital money. but if digital money walk beside of paper money, it sound good.
many country rejected virtual because of the existence. prone of hack, we can forgot our password too so it danger for us. and for government people, it can be money laundry that can difficult to track people who make cheat

BlockchainCoder
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November 23, 2017, 10:12:51 PM
 #4757

Many European countries are almost no need of use notes, all the shops,restaurants ect. are accepte creditcard, mobilpay. It's could be quite difficult to yes encrypted coin in next few years according with the unsta6 exchange currency.

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November 23, 2017, 10:25:52 PM
 #4758

I believe that in future there will be no more paper money, because they can often be lost. Will come era when everyone will use only mobile phones and all currencies will be there and no paper money will be needed. In future people will made programm with which u will can buy any goods in one currency for example in euros and u will can back receive in another currency for example dollars and perhaps people will make program which will convert any currency.
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November 24, 2017, 09:23:29 PM
 #4759

Paper money will not cease to exist simply because federal government will not let it occur. As easy as that. We could use bitcoin ut Ido nt believe we'll have enoughoinfluence to eliminate the government backed document money. They continuously printing and we will continue to use it also f we have bitcoin to depend on. Bitcoin will undoubtedly be an alternative, a much bette alternative.b  ir
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November 25, 2017, 12:32:07 AM
 #4760

A bill wouldn't disappear perfectly from now on, but it's apparent that it isn't used any more mostly.

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